FASB Releases Final Chapter of Conceptual Framework

The FASB has released Chapter 6, “Measurement,” of its Conceptual Framework for Financial Reporting. The new chapter, which marks the completion of the Board’s conceptual framework project, “provides concepts for the Board to consider when choosing a measurement system for an asset or a liability recognized in general purpose financial statements.”

For more information, see the press release on the FASB’s Web site.